ISLAMABAD: The ICT export remittances, including telecommunication, computer and information services for the period July-November fiscal year 2021-22 surged to $1.051 billion at a growth rate of 37.57 percent compared to $764 million during July-November fiscal year 2020-21.

According to the data released by the Ministry of Information Technology and Telecommunication in November 2021, the ICT export remittances are $221 million at a growth rate of 31.55 percent when compared to $168 million reported for the month of November 2020.

Further, $26 million higher than export remittances during the previous month October 2021. The net exports for the period July-November fiscal year 2021-22 are $797 million, which is 75.83 percent of $1.051 billion in exports.

Jul-Oct ICT exports surge 39.26pc to $830m YoY

Last year, for the same period, the net exports were $554 million, which was 72.51 percent of $764 million in exports. The ministry spokesperson said that the Ministry of IT and Telecommunication was committed to increasing the IT exports and taking special steps in that regard.

Federal Minister for IT and Telecommunication Syed Aminul Haq has directed the PSEB to take every possible step for achieving target of IT exports remittances. He said under the prime minister’s vision of “Digital Pakistan”, it was vital to take forward all the matters related to information technology and connect the youth especially students to the digital world.

He said that the Ministry of IT was playing an important role regarding coping the Covid-19 pandemic through information technology, adding that the coronavirus cases were now declining in the country. The generous incentives from the government and various projects to enhance capacity and capability of the IT industry have resulted in strong industry growth rates.

Copyright Business Recorder, 2021